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On a positive note........


Good morning

 

What new protocols have we dabbled in now? The last one i wrote about was grape finance and although short lived we did come out with a small profit which we were really pleased about. 

 

Why short lived? well i have no expectations of a lot of these projects surviving or being profitable after more than 3 months. I am no expert but when i can't see how they are making money other than when new investors join, i do not expect longevity.I know that they try to implement games or lottery's to generate revenue but i believe that is a last ditch attempt. (I could well be wrong here, just my opinion)

 

Grape finance did drop a little bit below peg a couple of times but bounced back quite quickly and during this period we did follow their suggested strategy to some degree. We held on and compounded. David and I were watching the charts. It did climb for a while and then it wasn't! and we were fortunate enough to get our money out in time before it dropped even further.

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We had also been testing the waters at the same time with a small investment in DEX finance which was going very well so the money we took out of grape went into that. We mixed it up and put some in a liquidity pool, some in the regulation and staked some. (CryptoMasterMiner did a fantastic post on  DEX finance) https://www.publish0x.com/journey-through-crypto-from-newbie-to/dex-finance-yield-driven-stablecoin-protocol

 

At this time David kept saying that Grape would come back and we could put our money back in if that was the case (remember there are no 'I told you so's' in this house) My opinion was that i did not think it would, it had had its time and my analogy to david was 'Bitcoin is the wife and the finance  tomb forks are a one night stand'. Currently there has not been any significant recovery in the price of grape or wine.

 

Now we are chart watching the DEX. There is a pattern emerging here! Dex was going very well and again we followed the rules, we compounded and compounded and watched it grow. Then we took out profits and it still kept growing. Now we have had a shaky start in this crazy crypto world so to take out profits instead of just getting out before 'the **** hits the fan' felt to us like a huge win so we were over the moon. We carried on.

 

Then we saw a video on Frozen Walrus 

Frozen Walrus is a seigniorage protocol at it's core built with sustainable yields to last with community support. We are expanding our ecosystem into avenues that allow users utility with our tokens to give them constant value through GameFi and TradeFi mechanics.

It looked quite good as the video was a week by week 'how to' strategy starting with $100. So we thought we would give it a try as the returns were looking good. So we put $100 into Frozen Walrus. Again we were good and compounded which was building our investment up quite nicely. So much so that we decide to take some of the money out of DEX and put it into frozen walrus. It was doing well so we again took out some profits. (i am liking this!).

 

We have money invested in 2 protocols that are both doing well.............untill one of them was not! As David was chart watching we again managed to get our money out before the big drop.

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We were fortunate as not only did we take profit, we also got out without any losses. To say our time with Frozen Walrus was short would be an understatement and we put our money back into DEX. Currently it is what i would call slow and steady, we are not getting huge returns but a little everyday helps. If we had a huge amount of spare cash then it would be easy and i would have got as much Bitcoin as i could at under $20,000 but adding as much as we can, when we can is the next best thing.

 

I have no idea if you would call this a strategy but we have had a couple of wins and are really happy about that, we are using no more than $500 between these protocols so not a huge amount but enough that we don't want to loose it. Is it right to jump in and out of these protocols or should we give them more time? I have no idea really.

 

It seemed like a good time to write a positive post about our crypto adventure and although we have learnt a lot, we are still new and have a lot more to learn, We have been researching some more protocols and out of 5 only 2 warrant further research, more on that later though.

 

As always thank you for reading please feel free to comment.

 

 

 

Price chart screenshots from https://www.coingecko.com

 

 

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crypto newbie mom
crypto newbie mom

I have had an interesting rollercoaster ride into the world of crypto and want to share my story.


A foray into crypto, A technophobes journey
A foray into crypto, A technophobes journey

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